The Bureau of the Treasury aims to raise a total P45 billion through the auction of treasury bills and bonds for budget support.
On Monday, the BTr will offer a total P15 billion of treasury bills—P5 billion each of 91-, 182- and 364-day treasury bills. At the auction last week, the 91-day treasury bill fetched an average interest rate of 5.744 percent, the 182-day bill fetched 5.916 percent while the 364-day yield was 6.033 percent.
On Tuesday, P30 billion worth of treasury bills due July 2030 will be offered at an auction. The bond was issued last year at a coupon of 6.375 percent.
The government last week reported that it recorded a budget surplus of P88 billion in January, easing interest rates on treasurys.
Late last week, Finance Secretary Ralph Recto said the central bank’s overnight rates will likely stay “higher for longer” on lingering inflationary pressures. Recto, who is also a member of the Bangko Sentral ng Pilipinas’ policymaking Monetary Board, said the BSP may still cut rates this year but not as large as initially anticipated.
The BSP is scheduled to review its overnight rates, which has been raised by 450 basis points to 6.5 percent since 2022 to tame inflation, on April 4.
